Pray First – Don’t Panic

Do you have a bill that’s due right now and no way to pay it? Don’t panic!

When life gets hard, it’s tempting to run to the fastest, easiest source of help to relieve the pain. Unfortunately, that often worsens the situation. It’s like trying to pull a painful splinter without the proper tool. You end up pushing it in so deep you can’t remove it, and you need someone else to help, but when in financial pain, pray first – don’t panic! Go before the Lord. Get on your knees and pour out your pain, your fear, and your need. Ask for discernment and peace to make the right decision. Don’t just run out and get a payday loan. Yes, it will cover short-term needs like paying rent or a major repair, but they’re expensive and many people end up trapped by them.

The Consumer Financial Protection Bureau found that 80% of payday loan borrowers renew their loan after 14 days. This harmful cycle creates expensive bondage because fees and interest grow with each renewal. A better alternative is tapping into emergency savings, then rebuilding that account. Now if you don’t have savings, then humble yourself and go to a friend or your church. If your financial bind is not the result of repeated bad behavior, you may get help. Work, save, and sacrifice to pay back any funds that you borrow. The relief they give should motivate you to return the money so others can be helped. Remember: “…in every situation, by prayer and petition, with thanksgiving, present your requests to God.” (Philippians 4:6) So pray first – don’t panic!

And if credit card debt is preventing you from saving, contact Christian Credit Counselors. They can help you make a pay-off plan. Learn more at crown.org/ccc or call the Crown Help Line at 800-722-1976.